St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-06
sales OF Real Estate in st. Paul Thi
Week Nearly Two Million
Dollars,
including All Kinds of Property Business
and Residence, in All Parts
of the City.
NaIues Are All Firm and Well Main-
tanned and an Active Demand
Continues.
some Talk in Regard TO the Cable
Line and speculation About the
broadway Bridge.

all winter seems TO have taken a new start
with the first week in the first month of
spring, and if the transfers recorded during
the week closing with yesterday constitute
1alr criterion of what will take place with
better weather. March will surpass all pre-
NlouS months in the history of St Paul
y great many capitalists from the East.
and from the Middle and Western states
have been here and almost Invariably have
found prices 50 conservative as comparpd
with what they had anticipated that they
nave made more or less investments
OtherS who have been here, either during
tAe carnival or at some previous time. and
nave looked over the city and considered its
prospects, nave sent money to relatives or
friends. or 10 some trusted agent to
invest for them. a strong influx of capitaI
Is beginning to set towards ST. Paul as the
moneyed center OF the Northwest The
general impression of non-residents has
Deeh that prices were high in st. Paul. and
without actually examining into it there has
Oeen sort OF tact admission that such was
the tact. st. Paul is ruled, governed and
controlled by bankers, merchants and cap
ltallStS OF the extremely conservative class,
and they have always kept property ut
Very low figure. To illustrate: Some time
within the recent past gentleman sold
some acres. OF an interest in some, near
Lake Como TO an Eastern friend, on the
basis Of s. ,l20 per acre, which was really
from $500 to 5000 less than the price at
which land subdivided was selling in tie
immediate vicinity. The Eastern party
wrote 10 the esteemed president
Of commercial organization ask
iug the fair value of land
in the vicinity of Lake Como" The gen
tlemen thus addressed probably without a
word of inquiry, and perhaps pressed with
other duties, wrote OFF hand, and said sub
Stantially, Lands about Lake Como are
selling somewhere from Sl00 to $500 per
acre" The Eastern party at once felt that
he had been ''r0ped in" The fact is that
part of the land about Como is actually sell
ing. Warrendale for instance at oyer So, 900
per acre. and there is none near it, or
within two miles of it that can be had for
$500 per acre and 50. 900 per acre would be
a very low average for land about Como
During the past five years several hundred
thousand dollars have been driven away
from this city by the conservative advice of
men who shake their heads and say too
high" However all this has helped to
keep things solid" and in the long run
has benefited the city. Gradually prices
property will bring on an average nearly
half what it would bring in Omaha or Kan
sas City. One thousand dollars per front
foot is the highest price yet realized for
business property in St Paul.
FIFTEEN HUNDRED DOLLARS
per front foot is actually the highest price
asked for any that is known to be in the
market, and the conservative men say the
owner will never see it bring that figure.
In other cities. not far away either sales
have been made at over So, 900 per front
foot, and in Kansas City considerable has
actually sold at from So, 900 to So, 500 per
front foot. The men who are buying here
now have come to realize the fact that all
business property in st. Paul is held at
astoniShingIy low figures. They know that
the time is not far off when others will find
it out. andswill =eome here to st. Paul to
get some of the earth While it can be had at
low figures. e 81
The return of Mr.. Lowry seems to have
inspired hope that a cable line will be built
on ST. Anthony hill this year. The fact
that the line will start both ways from
Broadway, east and west. shows, as some
assert, that the company knows where the
center OF the city is, and good many peO-
pie who have heretofore supposed that the
center was WabaSha street, have commenced
to study the city map more closely. 1t APP
pears that from Rice street easterly there is
not street that cuts through the bluff back
of the city on an easy grade till Broadway
and Mississippi street (the latter being
continuation of Broadway is
reached. This magnificent thoroughfare
extends on a level, almost, for miles out
into the country. State street. in West st.
Paul, might we'll be called South Broad
way, and it runs up the West st. Paul
bluff on an easy grade and could be eX-
tended straight back, almost for miles, into
a lovely country. This, it is asserted. will
be done when the Broadway bridge is built,
and that then this avenue will become the
great north and south thoroughfare as Sev-
enth street is now the great east and west
business avenue Of the city. The cable
line will make business thorOughfare of
lower Broadway, and it will not be com
plete before some vastly expensive business
structures will adOrn that heretofore neg
Iected street. Several large wholesale con-
Germs now occupying rented blocks are
likely in the near future to build houses for
themselves, and the prediction is ventured
that if they don't go on Broadway itself,
they will not miss it two blocks either way.
Some heavy purchases are rumored to have
been negotiated already on that street, but
the agents who know and the buyers who
want to secure more property will not talk
at all until all deals are closed and ready to
be recorded.
SEVERAL NEW RAILROAD LINES
which occupy a great deal of office room in
the city may lind it convenient to be close
together on Broadway in less than two
years. The Northern Pacific and its auxil-
larry lines are already in the headquarters
building of that road at the foot of Fourth
street. The Manitoba and its auxiliary
will have grand building on Third and
Broadway. What roads will want build
ings on Fifth or Sixth and Broadway, the
future alone can tell. A united bank build
ing on Robert or Jackson streets between
Third and Fonrth, would be grand
scheme and some of the shrewd ones have
already considered the matter. All who
have thought it over, admit that it would
be paying investment and it only needs
that some ambitious, young, enterpriSing
and reliable man take the initiati veto en-
sure such an enterprise. Inquiries in the
various offices show that there is not much
well located business property offering in
the market just now. Owners realize that
the business area is quite limited i'll st.
Paul, and recently it seems to
nave dawned upon them that
nossibly some of 1t would be a
good thing to keep for their children. Out
LAYING properties are active, notwithstand-
ing the heavy SHOWS, and many small buy
ers are seeking for single lots on which to
build themselves homes. Dayton's bluff
property is more active than it has been,
and. relatively, is said to be 1873 per cent
cheaper than residence property equally
distant from the business center. Midway
property never flags, and seems to have
taken decidedly new impetus, by reason